A highlight of the innovative model is a commitment to social outcomes with Good Cycles using the scheme to engage disadvantaged people with employment opportunities.

This is the first expansion into Australia for Mobike, which recently added Singapore, Manchester and Newcastle to its operations that span 130 cities.

The robust, lightweight and patented bike designs feature a smart lock system combined with the smartphone app to offer convenient access to a bike.

The bike share scheme is flexible and easy to use with residents and visitors able to unlock and lock their bike using an app.

“We will have one of the best dockless bike-share schemes in the world,’’ said Mayor Tom Tate.

“The bikes will be rolled out strategically and increase availability to meet demand. They will be on the streets in time for Gold Coast 2018 Commonwealth Games.”

TAG Group chief executive officer Michael McGee said the Gold Coast’s model would change the perception around bike-sharing in Australia.

“While bike sharing is in its infancy in Australia, we are excited to showcase how the Gold Coast’s unique model can enhance mobility with digital disruption while supporting positive social outcomes for the community,” he said.

Around 2000 bikes are expected to be available across Southport, Surfers Paradise, Broadbeach and Varsity Lakes by late January 2018. Some bikes will be equipped with surfboard racks.

Chris Martin, Head of International for Mobike, said Australia represents an amazing opportunity for Mobike.

“The Gold Coast is an ideal location for us to start our smart bikeshare service. We are very pleased to be the exclusive partner for the city and delivering our mission to improve city residents’ quality of life by providing an affordable means of shared transportation while reducing congestion and air pollution.”

Good Cycles CEO, Jaison Hoernel said "the success of the 2018 Commonwealth Games, like any other global sporting event, can be measured by multiple values, including its social wellbeing legacy. This exciting partnership presents an opportunity to enhance visitors' experiences during the Games and to positively impact the lives of young people throughout the Gold Coast region, beyond the closing ceremony."